This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Pricey Property Investment on the Rise
Expensive property investment in the UK market is continuing to increase, as the world’s richest people hold London assets worth more than £300 billion.
The data was released by industry publication Estate Gazette, which reports that 60 billionaires own property in the capital, compared with just ten in 2009.
Top of the list is Amancio Ortega, the Spanish billionaire boss of Zara, who owns £47.7 billion worth of property in London.
Traditional investment spots, such as the West End and Knightsbridge, are continuing to witness foreign investment, due to extremely strong returns and a steady flow of opportunity.
One example of this is Lord Sugar’s firm Amsprop, which recently sold Burberry’s old flagship store for £65m – more than double the £31m it bought it for in 2013.
However, smart investors are seeking opportunities in areas beyond zone 1. These ultra-rich individuals are not just looking in Belgravia, Chelsea and Mayfair anymore, but also at the lower end of the market. Boroughs such as Croydon are attracting attention due to current regeneration projects and excellent transport links.
Research indicates a geographic shift that is resulting in much more investment opportunities in commuter towns.
CBRE’s house price growth forecast expects London prices to rise by 30% by 2019, as a lack of supply pushes prices up and ensures steady demand.
Which parts of the capital are you looking to invest in?
